The cost of college is almost certainly too high, and a consequence of that is alarming student debt. Does that mean our goal should be to make college debt free? Depends how you do it. First, let's be clear: While the cost of college is probably much higher than it should be, and millions of people enter but never finish, a degree still tends to pay off handsomely, with the average graduate making far more over her lifetime - some estimate $1 million more - than someone who ended their education after high school. Average debt for grads who took out loans - about $35,000 - is therefore a good investment in oneself, and even the lowest-income Americans would be welcome customers for lenders as long as they were demonstrably college ready and planned to major in a marketable subject.